noun the central bank of the United Kingdom, which acts as banker to the government and the commercial banks. It is responsible for managing the government’s debt and implementing its policy on other monetary matters: established in 1694, nationalized in 1946; in 1997 the government restored the authority to set interest rates to the Bank

an institution for receiving, lending, exchanging, and safeguarding money and, in some cases, issuing notes and transacting other financial business. the office or quarters of such an institution. Games. the stock or fund of pieces from which the players draw. the fund of the manager or the dealer. a special storage place: a blood bank; […]

drafts, bills, and acceptances payable by banks. commercial paper that may be discounted in a bank. Historical Examples The depreciation of bank paper procured the appointment of a bullion committee. Worcestershire in the Nineteenth Century T. C. Turberville The bank paper, the bank seal—even the signature of the letter he knew by name. John Ames, […]

the rate of discount fixed by a bank or banks. British. the discount charge set by a central bank, as by the Bank of England. Historical Examples But it must not be supposed that when bank rate is ineffective the Bank of England is doing no business. Readings in Money and Banking Chester Arthur Phillips […]

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